IRCTC plunges 8% as co withdraws e-tender for data monetisation plan

NEW DELHI: Shares of IRCTC plunged over 8 per cent in Monday's trade after the company said it has withdrawn e-tender for data monetisation plan.

The scrip fell 8.14 per cent to hit a low of Rs 660 on BSE.

IRCTC told stock exchanges that due to the withdrawal of Personal Data Protection Bill 2018 by the government of India, the e-tender for the appointment of consultant for data monetisation of Indian Railway floated by IRCTC on July 29 has been withdrawn.


Earlier on August 18, the company had clarified that it was at the nascent stage of floating the tender and calling bids from eligible consultant aspirants.

"Concrete outcome will be known only subsequent to the selection of suitable consultant and submission of its report on monetization," it had said.

IRCTC had said that the consultant will guide IRCTC and Indian Railways on monetisation activities and advise on the monetisation value of digital assets by observing various acts or laws including IT Act 2000 and its amendments, User data privacy laws including GDPR (General Data Protection Regulation) and current 'Personal Data Protection Bill 2018 of India.